Limit of tax audit for a llp
This query is : Resolved
06 April 2015
Please let me know about the limit for tax audit for a LLP.
Also if the LLP is providing professional services, will it be treated as person carrying out a profession or a person carrying out a business?
Also if the LLP is providing professional services, will it be treated as person carrying out a profession or a person carrying out a business?
06 April 2015
Basically, an LLP is considered at par with a Partnership Firm in the eyes of IT Act. So, the same principles applies. If business- 1 Cr and if professional services- 25 lacs. :)
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